He just playing with our psychological trading assessments.
Nobody know what the future lies but if Elon said something, he surely can influence the market.
The matter only if we can resist his temptation or not
Topic: SpaceX sold $373M worth Bitcoin, reason of current dump - page 5. (Read 777 times)
Have you see how dumping Bitcoin? If not you are missing red chart. Here is the reason why current dump happened.
https://cointelegraph.com/news/spacex-sold-bitcoin-acquired-2021-2022-report
You can see SpaceX sold $373M worth of Bitcoin. Elon is very harmful for Bitcoin as always. He always supports shitcoins that doesn't have any real value.
And there is also news that investors have begun to transfer their money to other assets. For example, in government bonds, because there was an increase in interest rates. This was to be expected for the reason that there is no profitability recently from crypto tools. Bitcoin has been trading in a narrow price range for a very long time, which is not what you need.https://cointelegraph.com/news/spacex-sold-bitcoin-acquired-2021-2022-report
You can see SpaceX sold $373M worth of Bitcoin. Elon is very harmful for Bitcoin as always. He always supports shitcoins that doesn't have any real value.
Yes, Musk is also able to influence the market, but still he does what he wants. Nobody orders him. This is how it should be in this direction. Is not it? Why should he be excluded from the players? I don't understand.
I don't know if it's fair to say that "Elon is very harmful for Bitcoin as always." After all, he is the same Elon who also contributed to Bitcoin's rise when his company purchased more than a billion dollar in Bitcoin in 2021. He also significantly contributed to it when he announced that his company would be accepting Bitcoin payments.
The statement sounds bitter, especially because we all knew this would eventually happen. This is the reality. That's why it is actually bad for Bitcoin's price when considerable amounts are focused in the hands of a few individuals or institutions only.
Today, we're all praises to MicroStrategy, for example. What will happen when the day comes when the company finally liquidates its Bitcoin holdings? Should we also be bitter to it, to Michael Saylor? Should we blame them for taking profit? Everybody does this.
I guess we should start realizing that whatever is bought could be sold at some point. We shouldn't be fooled that these investors won't sell. What's the point of investing, after all?
The statement sounds bitter, especially because we all knew this would eventually happen. This is the reality. That's why it is actually bad for Bitcoin's price when considerable amounts are focused in the hands of a few individuals or institutions only.
Today, we're all praises to MicroStrategy, for example. What will happen when the day comes when the company finally liquidates its Bitcoin holdings? Should we also be bitter to it, to Michael Saylor? Should we blame them for taking profit? Everybody does this.
I guess we should start realizing that whatever is bought could be sold at some point. We shouldn't be fooled that these investors won't sell. What's the point of investing, after all?
Well let's not go overboard and compare Musk to Saylor. Saylor is a huge bitcoin bull, Musk is a market manipulator. He started turning his back on Bitcoin within months of getting involved in it, and he has always been a meme coin shill. Musk has always promoted dogecoin 100x more than bitcoin. I mean will Microstrategy sell a little bit of bitcoin here and there when they need to...sure, they already have done that once. But Saylor is nothing like Musk. Musk does things for attention. Saylor actually believe in Bitcoin.
Uh-uh!
But, well, let's believe what we want to believe. Musk and Saylor are not completely the same, of course. Are they completely different, though? I don't think so. These huge capitalists are basically of the same feather. They have a penchant to sweet-talk people. They exaggerate things a bit for their own interest. Musk is much more a troll and tactless, though.
However, when Saylor mentioned, for example, that it would hodl its Bitcoin for 100 years, do you believe him? When he encouraged people, for example, to mortgage their houses and buy Bitcoin, do you believe him? Do you really believe that Saylor is willing to have his billions sleep with Bitcoin for several decades and do nothing about them? Do you completely trust this man?
Even among us here, how many of us so-called hodlers are truly willing to hodl our Bitcoin even after it hit $100,000?
Have you see how dumping Bitcoin? If not you are missing red chart. Here is the reason why current dump happened.
https://cointelegraph.com/news/spacex-sold-bitcoin-acquired-2021-2022-report
You can see SpaceX sold $373M worth of Bitcoin. Elon is very harmful for Bitcoin as always. He always supports shitcoins that doesn't have any real value.
https://cointelegraph.com/news/spacex-sold-bitcoin-acquired-2021-2022-report
You can see SpaceX sold $373M worth of Bitcoin. Elon is very harmful for Bitcoin as always. He always supports shitcoins that doesn't have any real value.
That is precisely my fear when I hear news of institutional adoption of Bitcoin. With the kind of money they have in reserve, they can easily buy large quantities of Bitcoins and can have the power to manipulate the market even if it's for a short term.
My biggest fear is now BlackRock entering into the Bitcoin market. This is not going to be a good news for the crypto investors like me.
Have you see how dumping Bitcoin? If not you are missing red chart. Here is the reason why current dump happened.
https://cointelegraph.com/news/spacex-sold-bitcoin-acquired-2021-2022-report
You can see SpaceX sold $373M worth of Bitcoin. Elon is very harmful for Bitcoin as always. He always supports shitcoins that doesn't have any real value.
https://cointelegraph.com/news/spacex-sold-bitcoin-acquired-2021-2022-report
You can see SpaceX sold $373M worth of Bitcoin. Elon is very harmful for Bitcoin as always. He always supports shitcoins that doesn't have any real value.
My question is this.... Was Elon Musk very harmful to Bitcoin when he bought those coins and subsequently pumped the price? We tend to concentrate on the negative news, forgetting that he also helped Bitcoin by investing money into it.
SpaceX are burning money like crazy, so I think Elon Musk are selling off non performing investments to fund his projects that might yield higher profits in the future.
legendary
Activity: 1358
Merit: 1565
The first decentralized crypto betting platform
Quote
Among the factors behind the selling is a continued surge in global interest rates, particularly in the U.S., where the 30-year Treasury bond rose to 4.42%, its highest level since 2011, according to Bloomberg. The 10-year yield at 4.32 has risen to just a basis point shy of about a 15-year high.
That's helped put a damper on not just crypto prices, but risk assets in general. Though holding the flatline today, the Nasdaq is lower by about 6% for the month of August.
That's helped put a damper on not just crypto prices, but risk assets in general. Though holding the flatline today, the Nasdaq is lower by about 6% for the month of August.
It's the whole market that's going down including stocks, it has nothing to do with some rumors about Spacex
https://www.barrons.com/livecoverage/stock-market-today-081723
Exactly. And it is not only that, that is to say, it is not only the current and recent rise in interest rates, but the expectation is that they will continue to rise, which means that there will be less money circulating, less money to consume, to pay debts and to invest. It is therefore normal that in general the price of financial assets will fall, as is happening.
The bad thing is that with the title of the thread, there are going to be a lot of people who will keep commenting on whether or not the drop has to do with the sale of bitcoin by SpaceX, which happened some time ago.
Have you see how dumping Bitcoin? If not you are missing red chart. Here is the reason why current dump happened.
https://cointelegraph.com/news/spacex-sold-bitcoin-acquired-2021-2022-report
You can see SpaceX sold $373M worth of Bitcoin. Elon is very harmful for Bitcoin as always. He always supports shitcoins that doesn't have any real value.
https://cointelegraph.com/news/spacex-sold-bitcoin-acquired-2021-2022-report
You can see SpaceX sold $373M worth of Bitcoin. Elon is very harmful for Bitcoin as always. He always supports shitcoins that doesn't have any real value.
Don't know if this news is true or not but Good if Elon Musk sold his Bitcoin and bitcoin moved from weak hands to the strong hand.
Remember whenever anyone sells bitcoin, there is a buyer to buy it and this dump is a temporary one and may not last long. Think for a moment that bitcoin prices again reach the 29-30K range in next few days or weeks and then SpaceX would not have those bitcoins that they just sold. Where will SpaceX stand then ?
Think Bitcoin reaches all time high in 2024 or 2025 and SpaceX will just witness the flight of Bitcoin regretting why they sold
I don't know if it's fair to say that "Elon is very harmful for Bitcoin as always." After all, he is the same Elon who also contributed to Bitcoin's rise when his company purchased more than a billion dollar in Bitcoin in 2021. He also significantly contributed to it when he announced that his company would be accepting Bitcoin payments.
The statement sounds bitter, especially because we all knew this would eventually happen. This is the reality. That's why it is actually bad for Bitcoin's price when considerable amounts are focused in the hands of a few individuals or institutions only.
Today, we're all praises to MicroStrategy, for example. What will happen when the day comes when the company finally liquidates its Bitcoin holdings? Should we also be bitter to it, to Michael Saylor? Should we blame them for taking profit? Everybody does this.
I guess we should start realizing that whatever is bought could be sold at some point. We shouldn't be fooled that these investors won't sell. What's the point of investing, after all?
The statement sounds bitter, especially because we all knew this would eventually happen. This is the reality. That's why it is actually bad for Bitcoin's price when considerable amounts are focused in the hands of a few individuals or institutions only.
Today, we're all praises to MicroStrategy, for example. What will happen when the day comes when the company finally liquidates its Bitcoin holdings? Should we also be bitter to it, to Michael Saylor? Should we blame them for taking profit? Everybody does this.
I guess we should start realizing that whatever is bought could be sold at some point. We shouldn't be fooled that these investors won't sell. What's the point of investing, after all?
Well let's not go overboard and compare Musk to Saylor. Saylor is a huge bitcoin bull, Musk is a market manipulator. He started turning his back on Bitcoin within months of getting involved in it, and he has always been a meme coin shill. Musk has always promoted dogecoin 100x more than bitcoin. I mean will Microstrategy sell a little bit of bitcoin here and there when they need to...sure, they already have done that once. But Saylor is nothing like Musk. Musk does things for attention. Saylor actually believe in Bitcoin.
I don't know if it's fair to say that "Elon is very harmful for Bitcoin as always." After all, he is the same Elon who also contributed to Bitcoin's rise when his company purchased more than a billion dollar in Bitcoin in 2021. He also significantly contributed to it when he announced that his company would be accepting Bitcoin payments.
The statement sounds bitter, especially because we all knew this would eventually happen. This is the reality. That's why it is actually bad for Bitcoin's price when considerable amounts are focused in the hands of a few individuals or institutions only.
Today, we're all praises to MicroStrategy, for example. What will happen when the day comes when the company finally liquidates its Bitcoin holdings? Should we also be bitter to it, to Michael Saylor? Should we blame them for taking profit? Everybody does this.
I guess we should start realizing that whatever is bought could be sold at some point. We shouldn't be fooled that these investors won't sell. What's the point of investing, after all?
The statement sounds bitter, especially because we all knew this would eventually happen. This is the reality. That's why it is actually bad for Bitcoin's price when considerable amounts are focused in the hands of a few individuals or institutions only.
Today, we're all praises to MicroStrategy, for example. What will happen when the day comes when the company finally liquidates its Bitcoin holdings? Should we also be bitter to it, to Michael Saylor? Should we blame them for taking profit? Everybody does this.
I guess we should start realizing that whatever is bought could be sold at some point. We shouldn't be fooled that these investors won't sell. What's the point of investing, after all?
Ah yeah I just saw this and I was like ooooooh that's why it suddenly dropped to $25k lol. Got a bunch of people hanging off Musk's every word dumping now that they got wind that he dumped everything.
Unless they are strapped for cash its a terrible decision. But then again Musk is increasingly known for making terrible decisions, and that certainly applies to his actions in the cryptocurrency world. Probably better to get it over with now, Musk is just a market manipulator, a meme coin shiller, and kind of a loon the past few years. Obviously not good optics for Bitcoin that one of the few major corporate holders of Bitcoin just dumped everything, but at least the Bitcoin world can just leave Musk in the dust and leave him and the dogecoin fools to play with themselves.
Also I can't wait for the retrospectives the next two years as the bull market heats up, mentioning how Musk dumped under $30k whereas he could have made probably 4x to 5x if he waited two years. That'll be fun to see haha.
Unless they are strapped for cash its a terrible decision. But then again Musk is increasingly known for making terrible decisions, and that certainly applies to his actions in the cryptocurrency world. Probably better to get it over with now, Musk is just a market manipulator, a meme coin shiller, and kind of a loon the past few years. Obviously not good optics for Bitcoin that one of the few major corporate holders of Bitcoin just dumped everything, but at least the Bitcoin world can just leave Musk in the dust and leave him and the dogecoin fools to play with themselves.
Also I can't wait for the retrospectives the next two years as the bull market heats up, mentioning how Musk dumped under $30k whereas he could have made probably 4x to 5x if he waited two years. That'll be fun to see haha.
The real news is that they were sold at a loss.
Did they had an urgent need for cash?
Who even cares about that? Elon Musk's antics in the realm of cryptocurrency are an enigma wrapped in unpredictability. He's perennially armed with a trove of eccentric verdicts regarding Bitcoin and its digital counterparts. He hasn't even relinquished his penchant for tweeting about DOGE, a coin he pumped into the limelight years ago.Did they had an urgent need for cash?
Even though his Bitcoin escapade might have ended in a financial fiasco, I'm quite convinced there's an ulterior scheme in the works, poised to churn out more monetary triumphs. His mastery in steering the market is a force to be reckoned with. Elon effortlessly wields the power to steer the tides of the market toward whatever end he envisions.
What a dump of price now that we are expecting a pump. Is it that these two news about SpaceX and Evergrand bankruptcy was the cause of the downward movement in bitcoin,if so it is very annoying. Someone like Elon should abandon bitcoin and invest on the Dodgecoin that he prefers so that we wouldn't have his manipulation on the market of bitcoin price anymore because he is only after making profit and does whatever he thinks will bring more profit for him as a businessman. Let's not see it as a bad news but rather an opportunity to accumulate more bitcoin by taking advantage of the price now.
The real news is that they were sold at a loss.
Did they had an urgent need for cash?
If they really did then yeah, most likely it's a loss for them or it could be just break even that's why they are willing to sell it now. Did they had an urgent need for cash?
And if I'm not mistaken, Tesla also sold bitcoin before some of their stash of BTC.
So it's really crazy to think that if they really sold and what is the reason for it? Doesn't make any sense at all.
Or is this just another FUD created by some entity to pull the price down?
When did SpaceX buy Bitcoin, I thought it was Tesla who did it, it is true that the two investments are for Musk, but they are completely different, and was the same action done by Tesla? $373M will not cause this change, as daily trading is around $30,926,828,624, and if we convert $373M into Bitcoin, we will find it 14,000 Bitcoin, not the amount that can cause a price move.
the reason for -9.65%, the price lasted for more than a month below 30k, and it is normal for it to decrease.
the reason for -9.65%, the price lasted for more than a month below 30k, and it is normal for it to decrease.
I think it is okay for any company to sell their assets, it will be good if bitcoin is not depend on any company. it is just my point of view but it seems that people are changed a lot. in the past I saw many people hope for mass adoption, now many people hope for big company to invest in bitcoin. the extreme volatility of bitcoin is still exist, it is good for trader. I hope it will not fall too deep. this is opportunity to buy btc at lower price.
I'm not sure that's the main reason though. SpaceX news were published a couple hours ago, and the (flash) crash just happened, it looks like China's Evergrande filing for banckrupcy is what caused this?
https://www.reuters.com/legal/china-evergrande-files-chapter-15-bankruptcy-us-court-filing-2023-08-17/
Is there a way to check the validity of the source? I'm seeing quite a few users suggesting that it isn't accurate and that it's practically old news. Although even if that happened, I find it doubtful to believe that SpaceX caused such a major crash, as Bitcoin has been losing value in the past one or two days. This major dip today, however, has been the icing on the cake. I do believe, however, that if their coins were actually sold, it would deteriorate an already existing situation, as Bitcoin is currently trending at $26,500, something that I wasn't expecting to see. I'm frustrated if we're about to see a major downfall in the market for the remainder of 2023. https://www.reuters.com/legal/china-evergrande-files-chapter-15-bankruptcy-us-court-filing-2023-08-17/
I'm not sure that's the main reason though. SpaceX news were published a couple hours ago, and the (flash) crash just happened, it looks like China's Evergrande filing for banckrupcy is what caused this?
https://www.reuters.com/legal/china-evergrande-files-chapter-15-bankruptcy-us-court-filing-2023-08-17/
It could be a combination of the two things all together, but anyway also the Evergrande news is not actually a news, they were pretty much already bankrupted but in a certain way the Chinese government decided to slow down the process since they already had economical issues (I mean slower growth). Anyway, as usual, any news is good to create FUD and make BTC dump, or at least they try. https://www.reuters.com/legal/china-evergrande-files-chapter-15-bankruptcy-us-court-filing-2023-08-17/
Here is the reason why current dump happened.
That's not the reason!
Musk as in Spce x didn't sell coins now, it did somewhere in Q2 so that's at least 3 weeks ago and at most 3 months ago!
Rather than speculation about Musk this is far more realistic and more correlated with the dump:
https://www.coindesk.com/markets/2023/08/17/bitcoin-slides-to-283k-after-leveraged-funds-ramp-up-bearish-bets/
Quote
Among the factors behind the selling is a continued surge in global interest rates, particularly in the U.S., where the 30-year Treasury bond rose to 4.42%, its highest level since 2011, according to Bloomberg. The 10-year yield at 4.32 has risen to just a basis point shy of about a 15-year high.
That's helped put a damper on not just crypto prices, but risk assets in general. Though holding the flatline today, the Nasdaq is lower by about 6% for the month of August.
That's helped put a damper on not just crypto prices, but risk assets in general. Though holding the flatline today, the Nasdaq is lower by about 6% for the month of August.
It's the whole market that's going down including stocks, it has nothing to do with some rumors about Spacex
https://www.barrons.com/livecoverage/stock-market-today-081723
Elon is very harmful for Bitcoin as always. He always supports shitcoins that doesn't have any real value.
Elon is a cunt, he only supports his interests and his wallet. Obviously, Bitcoin can't bring 1000x profit like shitcoin, so maybe he's losing interest. I would honestly like this to be his final exit from the crypto sphere.
Things seem to be calming down. btw. According to Coinglass, over $866.73M million in liquidations have occurred in the last 4h. after all, this seems to have been some kind of stress test
Current price
Is that the real reason or someone took advantage of the news to manipulate the market? spaceX just sold $373 million while bitcoin's market cap is over 500 billion, will that really seriously affect bitcoin causing it to be dumped more than 10%? what I see bitcoin dumping shows that the market is still full of manipulation when people are expecting bitcoin to have a bull run, it goes against the crowd. moreover, we always call to buy more if bitcoin is cheaper, why are we criticizing Elon when he is helping us? This is a good time to accumulate, that's all I see.
Jump to: